Asset Dedication LLC Purchases Shares of 1,200 AeroVironment, Inc. (NASDAQ:AVAV)

Asset Dedication LLC acquired a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,200 shares of the aerospace company’s stock, valued at approximately $241,000.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. purchased a new position in AeroVironment in the first quarter worth about $26,000. Security National Bank purchased a new position in shares of AeroVironment in the 3rd quarter worth approximately $31,000. Canada Pension Plan Investment Board bought a new position in shares of AeroVironment during the 2nd quarter valued at approximately $36,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in AeroVironment during the 1st quarter valued at $38,000. Finally, GAMMA Investing LLC lifted its position in AeroVironment by 50.2% in the first quarter. GAMMA Investing LLC now owns 401 shares of the aerospace company’s stock worth $61,000 after buying an additional 134 shares during the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 513 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $174.70, for a total value of $89,621.10. Following the completion of the sale, the chief financial officer now directly owns 18,650 shares in the company, valued at approximately $3,258,155. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,787 shares of company stock worth $352,178 in the last ninety days. 1.40% of the stock is owned by insiders.

AeroVironment Stock Performance

Shares of AeroVironment stock opened at $215.63 on Friday. The company has a market capitalization of $6.07 billion, a PE ratio of 97.13 and a beta of 0.50. The company has a 50-day simple moving average of $193.53 and a two-hundred day simple moving average of $183.17. AeroVironment, Inc. has a one year low of $112.28 and a one year high of $224.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.04 and a current ratio of 4.26.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The company had revenue of $189.48 million during the quarter, compared to analysts’ expectations of $183.18 million. During the same quarter in the prior year, the company posted $1.00 earnings per share. AeroVironment’s revenue for the quarter was up 24.4% compared to the same quarter last year. Research analysts expect that AeroVironment, Inc. will post 3.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AVAV shares. Raymond James cut shares of AeroVironment from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. Royal Bank of Canada decreased their target price on AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. BTIG Research reissued a “buy” rating and set a $245.00 price target on shares of AeroVironment in a research report on Tuesday, September 17th. Robert W. Baird upgraded AeroVironment from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $161.00 to $220.00 in a report on Wednesday, August 28th. Finally, Alembic Global Advisors upgraded shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 target price on the stock in a report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $208.20.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.